Cyprus Mail

Two arrested for loansharking

Police arrested two men in Larnaca on Tuesday, aged 42 and 22, on suspicion of loansharking.

A Larnaca resident had reported to police the previous day that he borrowed €2,000 from the 42-year-old man last month and agreed to pay a weekly interest rate of 20 per cent, resulting in him owing €3,640.

The 42-year-old and another man, 22, who is allegedly involved, were arrested at 5pm on Tuesday to facilitate investigations.